The PGE are still the undiscovered prize. Many have tried to estimate the "economics" of the grades published in the latest NR, most trying to show that they are worthless. This is misleading and premature IMO. The hunt has just begun!
To say that PGE found within the chrome horizon will "ruin" the chrome is a concern, however one must consider that economic PGE are typically mined from other stratigraphic horizons within layered mafic intrusions. There is evidence from other localities in the ROF that PGE reside in various stratigraphic positions relative chromite horizons. The news of PGE is great in that FWR for the first time has really highlighted the intercepts that they have already reported and has let everyone know that indeed PGE are important and that they are actively looking. The first priority has been the chromite drilling, good strategy, a no-brainer. When I first talked to Mac and Don Hoy at Hard Assets last November, they were excited about the chances for finding significant amounts of PGE. IMO they have been mostly silent on PGE so as not to detract from the story of Black Thor, Black Label and Big Daddy.
With the chromite drilling now indicating a GIANT chromite deposit, the basics have been revealed. With the HOSTILE bums rush to take FWR away, the time has come to tell Chapter 2 of the story, Platinum group metals (Sambone's IUMS)...:-).
I have posted that to try and make a judgement about the economic viability of these PGE at this time is silly, Been There has done some calculations but makes no judgment, other than take a wait and see attitude, which is very helpful.
In mineral exploration, these are great "Sniffs" of a prize worth chasing, that is where are, looking for (exploring) further PGE mineralization... it is suspect IMO to think that some are trying to do the "back of the envelop" "Scoping Study" valuations and trying to assign a thumbs up or thumbs down on the news of the PGE and their overall economic value.
IMO the hunt is on, FWR has many locations in which to look and the NR is to let everyone know that this is an important part of FWR’s strategy. The "horse" has been chromite over the last year... chromite... the "cart" is PGE. IMO, Mac did not want to get the "Cart before the Horse" and muddy the story and significance of Black Thor, Black Label, and Big Daddy chromite.
Now concerning the angst over chromite "killing" PGE, there is evidence from other ROF properties that PGE have been found 1. below, 2. within, 3.above the chromite horizons.
This is an excerpt for a post I make a while back about PGE and Big Daddy;
"The NR about PGE within Big Daddy, in good quantity is great news IMO. I still say that this (PGE) is the undiscovered prize! The news that PGE and GOLD at Big Daddy have been detected in the hanging wall rocks (above the chromite) is interesting since most of what I have read talks about PGE within the ROF intrusive implies they are found in the hanging wall (below the chromite) rocks. So now we have PGE within the chromite layers (Big Daddy again), under the chromite layers (footwall) and NOW above the chromite layers (hanging wall)… (this) is a game changer IMO. The above and below references are for the original horizontal orientation of the rocks... in present time, the entire section is turned on its ear (90 degrees out of horizontal to 110 degress out of the horizontal). Hanging wall rocks would be to the SE of Black Thor and footwall rocks to the NW of Black Thor.... that's a lot of untested ground to look for PGE. The news on Big Daddy PGE can most certainly be extended to the NE and onto the 100% FWR claims (IMO), giving Donald Hoy some great info to ponder for 100% FWR claims! Look at Bushveld LMI... PGE are found in many different stratigraphic locations in relation to chromite (above, below and within)!!!"
Freewest is a premier explorer and discoverer of economic mineral deposits and has delivered lots of value to shareholders. The hunt for PGE is on, the reported values are just a statement to indicate that there is great potential for the delineation of an economic PGE deposit IMO. The potential adds to the excitement of FWR and does NOT detract from the story.
At this point in the evolving story in this exploration effort, IMO it is just wrong to make the judgment that reports by FWR of PGE drill intercepts so far is "proof" that they are a "bust"... naive, and by some, meant to bash FWR so that the inexperienced dump their shares or submit them to Noront.
All I can say is ... the jury is still hearing evidence... so far the evidence is very good in favor of finding more PGE. Stay Tuned.
Not Investment Advice DYODD.
